Lisa Company accumulates the following data concerning raw materials in making its nished product. (1) Price per pound of raw materials is net purchase price $2.50, freightvin $0.80, and receiving and handling $0.40. (2} Quantity per gallon of nished product is required materials 3.2 pounds and allowance for waste and spoilage 0.6 pounds. Compute the following. (Round answers to 2 decimal places, as. 1.25.) (a) Standard direct materials price per pound of raw materials. $ (b) Standard direct materials quantity per gallon. pounds (c) Total standard materials cost per gallon. 35 eTextbook and Media Save for Later Attempts: 0 of 3 used Labor data for making one gallon of nished product in Susan Company are as follows. (1) Price-hourly wage rate $13.30, payroll taxes $0.50, and fringe benets $1.40. (2) Quantitywactual production time 1.7 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places. 6.3". 1.25.) (a) Standard direct labor rate per hour. $ (in) Standard direct labor hours per gallon. hours (c) Standard labor cost per gallon. $ eTextbook and Media Save for Later Attempts: 0 of 3 used Current Attempt in Progress Ivanhoe Company is planning to produce 1,300 units of product in 2022. Each unit requires 3.8 pounds of materials at $6.8 per pound and a half-hour of labor at $16 per hour. The overhead rate is 80% of direct labor. (3) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ {b} Compute the standard cost of one unit of product. (Round answer to 2 decimal places. 6.3. 2.75.) Standard cost $ Per Unit eTextbook and Media Save for Later Attempts: 0 of 3 used Vaughn ltzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch. 3,290 ounces of grape concentrate at $0.06 per ounce 54 pounds of granulated sugar at $0.35 per pound 60 lemons at $0.90 each 100 yeast tablets at $0.27 each 100 nutrient tablets at $0.17 each 1,800 ounces of water at $0.005 per ounce Vaughn estimates that 6% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used. Compute the standard cost of the ingredients for one gallon of wine. {Round intermediate calculations and nal answer to 2 decimal places, 8.3. 1.25.) Standard Cost Per Gallon $ eTextbook and Media Save for Later Attempts: 0 of 3 used Angela Company has gathered the following information about its product. Direct materials: Each unit of product contains 4.3 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.7 pounds. Materials cost $4 per pound, but Angela always takes the 1% cash discount all of its suppliers offer. Freight costs average $0.35 per pound. Direct labor. Each unit requires 1.7 hours of labor. Setup, cleanup, and downtime average 0.1 hours per unit. The average hourly pay rate of Angela's employees is $12.2. Payroll taxes and fringe benets are an additional $3.5 per hour. Manufacturing overhead. Overhead is applied at a rate of $4.6 per direct labor hour. Compute Angela's total standard cost per unit. {Round answer to 2 decimal places. 83. 1.25.} Total standard cost per unit $ eTextbook and Media Save for Later Attempts: O of 3 used Sheffield Company's standard materials cost per unit of output is $8.40 (2.00 pounds x $4.20). During July, the company purchases and uses 2,160 pounds of materials costing $11,448 in making 1,200 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) Total materials variance to Materials price variance to Materials quantity variance to V eTextbook and Media Save for Later Attempts: 0 of 3 used Submit